10 Things That Get Cheaper When You Retire

5) Commuting

Commuting five days a week for work takes its toll on your car. During retirement, most people find that they are driving less. By not driving back and forth to work every day, you will reduce the wear and tear on your car. This will lead to fewer car repair expenses. A full time worker tends to spend close to $240 a month on commuting cost, such as gas for a car or public transportation. These costs can be all but eliminated after retirement due to reduced driving. Another option is to consider lowering your car insurance. If you have an older car, you may want to reduce certain types of coverage such as property damage liability and comprehensive coverage. It is also possible to get a lower premium, if you show your insurance that you are driving less.

6) Clothing

Say goodbye to business attire. Once you retire you can save a lot of money on the clothes you wear. A large majority of retirees have found that they actually spend less money on clothing now that they don’t need to wear suits, dresses, and professional clothing every day. Now that you don’t need these clothes you can donate them and receive a tax write-off. This will help you empty your closet and put some money back in your pocket. Your cleaner’s bill has never been cheaper than after retirement. Since you no longer need to wear business clothes every day, you do not need to go to the cleaners every week. Dry cleaning one suit can cost up to $10. That’s $50 a week if you wear a different one Monday through Friday. Forgo this expense and take advantage of being able to wear casual clothes all week.